Terra Luna Classic price has gained 1% in the last 24 hours, after a proposal to merge its ecosystem with the new Terra 2.0 platform emerged. At $0.00016160, LUNC is also down 0.2% over the past week and slightly over 35% over the past month, with its ongoing token burn doing little to counter the pressure exerted on the broader market by the collapse of FTX.
Unveiled by developers over the past few days, the mentioned merge will enable holders to use the Inter-Blockchain Communication (IBC) channel to send their LUNC to Terra 2.0 and receive new LUNA (as well as DEX rewards) in return . But with LUNC enjoying a larger market cap than its smaller counterpart, it’s not likely that holders will take the opportunity to swap it out for something less valuable.
Terra Luna Classic Price Prediction Seeks to Bring LUNA and LUNC Ecosystems Together as ‘Merge Protocol’ – LUNC to $2 by 2023?
According to the charts and indicators of LUNC, the altcoin is showing some degree of momentum, without any clear rally in the works. Its Relative Strength Index (purple) is currently hovering around 55, which means the direction is leaning more towards buying than selling.
It also looks like LUNC’s 30-day moving average (red) is on the verge of breaking above its 200-day average (blue), a move that could signal an upcoming rally. Of course, with the broader market remaining volatile, there’s no guarantee a crossover will last for long, as can be seen from examples past this year.
More than FTX collapse consequential fallThe most relevant thing happening with regards to LUNC at the moment is the aforementioned merge.
The latest news on this proposal is that it will happen at some point next month, although this remains provisional, given that it is dependent on the reopening of the IBC bridge, which will connect the Terra Classic and Terra 2.0 networks.
In addition to being able to swap LUNC for LUNA, only other details are available. Those who make this swap will also be provided with DEX-related incentives as a reward for providing liquidity. The exact form of these incentives has not yet been specified.
Given the lack of detail, and also the fact that the proposal seems to be partially aimed at reducing (if not eliminating) the Terra Classic ecosystem, community members have been less than enthusiastic. In fact, some have suggested that if the idea of swapping LUNC for LUNA proves successful, it would effectively ‘kill’ LUNC.
Despite such warnings, the proposal for a LUNC-to-LUNA swap has done little to affect the price of LUNC or LUNA. Both are up anything between 1% and 2% over the past 24 hours, yet it is worth noting that several other major coins have gained within the same time frame including bitcoin (2.5%), ethereum (4%) and Polygon. Has outperformed such percentages. 4%).
As such, it is likely that the ability to swap LUNC for LUNA will prove modest, at least in the short and medium term.
Looking at LUNC more generally, it continues to see token burn. around 28.8 billion LUNC have been burned so farOut of the total circulation of 6.88 trillion. Thus, it still has a long way to go before its on-chain tax burn (and various exchange burns) make a real dent in its supply.
With this in mind, it is unlikely that there will be any major increase in LUNC prices in the market in the near future. In the best-case scenario, it will return to the $0.0005 level seen in September, although this will depend on no further shocks in the cryptocurrency market.
While Terra Community Burns LUNC
While the Terra Luna Classic community continues to burn LUNC, it is likely that other altcoins could post strong returns in the meantime. This includes new tokens that are currently holding their pre-sale, and are due for exchange listing in the next month or so.
effectively, Some new coins have gained up to 1,800% Compared to their prior sale prices this year. While obviously not every new coin will repeat this kind of performance, those with solid fundamentals have a good chance of rallying soon after listing, and for that reason we’ve picked out three of the most promising pre-sales going on right now. Happening.
Dash 2 Trade (D2T)
dash 2 business Is a trading intelligence platform that provides investors with real-time analytics and social trading data, helping them make more informed trading decisions. Its D2T token runs on Ethereum, and is primarily used to pay monthly membership fees on its platform.
Ready to go live early next year, Its sale has already raised over $7.5 million and is about to enter its fourth phase (it will end after five). It also announced a listing on BitMart and LBANK exchange early next year, giving early investors a good chance to make some decent returns.
Robotera (Tarot)
Another Ethereum-based platform, robot era (TARO) is a sandbox-style metaverse, which is scheduled to launch its alpha version in the first quarter of 2023. It will enable gamers to play as a robot and create its virtual world including NFT-based land, buildings and other in-game items.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), however this price will increase to $0.025 in the second phase of its pre-sale, which will start soon.
Calvaria (RIA)
calvaria (RIA) is a blockchain-based card game, in which players can collect, trade, and battle their NFT-based cards. In addition to including play-to-earn features, it will enable gamers to play without holding any cryptocurrency, which could help make it more accessible to a wider audience.
The RIA will be used to purchase in-game items and place bets within its ecosystem, giving it a strong use case. The token pre-sale has raised $2.1 million and is currently in its fourth phase, during which 40 RIAs can be purchased for 1 USDT.
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